FLYRX vs. GIFIX
FLYRX (Pioneer Floating Rate Fund) and GIFIX (Guggenheim Floating Rate Strategies Fund) are both Bank Loan funds. Over the past 10 years, FLYRX returned 3.97%/yr vs 4.35%/yr for GIFIX. A 0.61 correlation means they provide meaningful diversification when combined. FLYRX charges 0.75%/yr vs 0.78%/yr for GIFIX.
Performance
FLYRX vs. GIFIX - Performance Comparison
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Returns By Period
In the year-to-date period, FLYRX achieves a 1.58% return, which is significantly higher than GIFIX's 1.04% return. Over the past 10 years, FLYRX has underperformed GIFIX with an annualized return of 3.97%, while GIFIX has yielded a comparatively higher 4.35% annualized return.
FLYRX
- 1D
- -0.17%
- 1M
- 0.56%
- YTD
- 1.58%
- 6M
- 2.36%
- 1Y
- 5.00%
- 3Y*
- 5.84%
- 5Y*
- 3.97%
- 10Y*
- 3.97%
GIFIX
- 1D
- -0.04%
- 1M
- 0.60%
- YTD
- 1.04%
- 6M
- 1.69%
- 1Y
- 3.45%
- 3Y*
- 6.54%
- 5Y*
- 4.97%
- 10Y*
- 4.35%
FLYRX vs. GIFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLYRX Pioneer Floating Rate Fund | 1.58% | 4.90% | 6.94% | 8.31% | -3.26% | 4.32% | 2.10% | 7.57% | 0.17% | 3.74% |
GIFIX Guggenheim Floating Rate Strategies Fund | 1.04% | 4.13% | 7.22% | 13.03% | -2.05% | 4.55% | 1.36% | 6.69% | -0.14% | 3.63% |
Correlation
The correlation between FLYRX and GIFIX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.61 |
The correlation between FLYRX and GIFIX shifts across timeframes, from 0.52 (3 years) to 0.64 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLYRX vs. GIFIX — Risk / Return Rank
FLYRX
GIFIX
FLYRX vs. GIFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Floating Rate Fund (FLYRX) and Guggenheim Floating Rate Strategies Fund (GIFIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLYRX | GIFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.46 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 5.34 | 2.49 | +2.85 |
| Martin ratioReturn relative to average drawdown | 15.76 | 7.30 | +8.46 |
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Drawdowns
FLYRX vs. GIFIX - Drawdown Comparison
The maximum FLYRX drawdown since its inception was -30.67%, which is greater than GIFIX's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for FLYRX and GIFIX.
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Drawdown Indicators
| FLYRX | GIFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.67% | -19.03% | -11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.94% | -1.40% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -2.05% | -2.49% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -6.61% | -6.30% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -19.05% | -19.03% | -0.02% |
Current DrawdownCurrent decline from peak | -0.17% | -0.09% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -0.75% | -1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.47% | -0.15% |
Volatility
FLYRX vs. GIFIX - Volatility Comparison
Pioneer Floating Rate Fund (FLYRX) and Guggenheim Floating Rate Strategies Fund (GIFIX) have volatilities of 0.65% and 0.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLYRX | GIFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.63% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 1.63% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 2.37% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 2.71% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 3.36% | +0.23% |
FLYRX vs. GIFIX - Expense Ratio Comparison
FLYRX has a 0.75% expense ratio, which is lower than GIFIX's 0.78% expense ratio.
Dividends
FLYRX vs. GIFIX - Dividend Comparison
FLYRX's dividend yield for the trailing twelve months is around 7.28%, more than GIFIX's 7.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLYRX Pioneer Floating Rate Fund | 7.28% | 7.48% | 5.87% | 6.45% | 5.40% | 3.46% | 3.91% | 5.01% | 4.70% | 4.13% | 3.88% | 3.85% |
GIFIX Guggenheim Floating Rate Strategies Fund | 7.01% | 7.40% | 8.47% | 8.34% | 3.64% | 2.91% | 3.78% | 4.38% | 4.71% | 3.83% | 4.10% | 4.85% |
Frequently Asked Questions
FLYRX and GIFIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYRX has higher volatility (0.65%) compared to GIFIX (0.63%). In terms of maximum drawdown, FLYRX dropped -30.67% vs GIFIX's -19.03%.
FLYRX currently has the higher Sharpe Ratio (2.03 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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